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121 NJ-73 Voorhees Township...

Boing US Holdco Inc. Acquires Development Site In Voorhees For $1.15M
SOLDDevelopment Site

Boing US Holdco Inc. Acquires Development Site In Voorhees For $1.15M

121 NJ-73 Voorhees Township, NJ 08043, USA

$1,150,000

Building Size

Asset Type

Development Site

Closing

Sep 1, 2023

AI

Rose Commercial Real Estate has sold nearly 2 acres of land in Voorhees, New Jersey, for $1.15 million. The prime location on Route 73, near Virtua Hospital, will be the future site of a "stay in your car" car wash service called Take 5.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $1,150,000
  • Address: 121 Route 73 South
  • Market: Voorhees
  • Buyer: Boing US Holdco Inc.
  • Seller: Medical Properties Route 73 LLC
  • Broker: Adam Rose (Rose Commercial Real Estate), Kevin Healey (Tri State Commercial)
  • Acres: 2

Adam Rose from Rose Commercial Real Estate and Kevin Healey from Tri State Commercial facilitated the sale of the property. The transaction involved Boing US Holdco Inc. as the buyer and Medical Properties Route 73 LLC as the seller. The deal attracted attention due to the prime location and the potential for a "stay in your car" car wash service.

Players

Adam Rose

Broker

$5.4M

vol

4 deals

Broker

Voorhees Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

13.79%

Cash-on-Cash

-3.94%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93